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Dana Purchases an Automobile for Personal Use for $27,000

Question 49

Multiple Choice

Dana purchases an automobile for personal use for $27,000. After using it for three years, Dana converts the automobile to business use when the fair market value is $19,000. What is Dana's basis for deprecation purposes?


A) $ - 0 -
B) $19,000
C) $27,000
D) The automobile cannot be depreciated.

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